Like any new technology, concept, or product — naturally, we all have different levels of hesitations.
As seen in the ‘State of Wallet Messaging’ report, the advent of wallet messaging sparked a few common concerns among B2C marketers.
In this article, we will take a deeper look into the findings of our comprehensive study on wallet messaging. By the end of this article, you will clearly understand the concerns of this emerging marketing channel and how web3 technology overcomes these challenges.
What top concerns are associated with wallet messaging?
Before we look at data specifically connected to the concerns associated with wallet messaging, it’s important to note that traditional marketers face two major challenges in marketing — data security and consumer privacy.
A study done in 2023 by Salesforce revealed that 76% of consumers exhibit greater loyalty to brands ensuring robust data security. McKinsey & Company further reported that 87% of consumers would refrain from engaging with a company harboring security-related concerns.
These common challenges have translated from the web2 marketing world into the web3 ecosystem.
The ‘State of Wallet Messaging’ report showed only 5% of marketers don’t have any concerns associated with wallet messaging, but over half of marketers unsurprisingly share two concerns. About 55% of B2C marketers share concerns associated with security concerns and 50% worry about consumer privacy.
If you’re also weary about data security and consumer privacy, I’d encourage you to learn more about the core values of the blockchain and web3 technology — web3 technology empowers users with transparency, control, and security. Read more about user privacy and control in web3.
The third most noteworthy concern pertains to the expenses associated with wallet messaging. Given the typical wariness surrounding new technologies, brands often try to avoid initial costs and uncertainties tied to new channels. Marketers can easily fall into faulty thinking that the risk of trying a new technology isn’t worth the potential reward.
(Check back with us next week for Part V of the State of Wallet Messaging Series — learn why the power of wallet messaging outweighs the associated costs).
How are marketers overcoming their concerns associated with wallet messaging?
Fortunately, marketers and consumers can easily overcome their concerns with wallet messaging.
Brands should find reassurance in knowing that any XMTP wallet message is guaranteed to be completely secure. Holder works with XMTP Labs to ensure security and end-to-end encryption. This additional safeguard enhances privacy and data security for every wallet message transmitted through the XMTP network.
With peace of mind like this, marketers can feel confident in knowing that their customers are protected.
If you are interested in seeing why the use of wallet messaging outweighs the associated costs, you can get started for free with us today. Here’s a clue — on average, Holder customers using wallet messaging see a 10-15x conversion lift!